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India's EV market is small, with Tata Motors (TAMO.NS) dominating sales that made up less than 2% of all cars sold last fiscal year. All sources declined to be identified as the talks are still ongoing and a final decision has not been made. Founded in 2015, Leapmotor has less than 2% share of China's fragmented EV market, where it sells four mass market electric models. This has also forced MG Motor India to find local investors like JSW so it can raise equity. Leapmotor also has been in partnership talks with other major automakers, including Stellantis (STLAM.MI) and Volkswagen (VOWG_p.DE), according to media reports.

Persons: JSW, Leapmotor, Sajjan Jindal, Aditi Shah, Zhang Yan, Neha Arora, Kim Coghill Organizations: REUTERS, DELHI, HK, MG Motor India, China's SAIC Motor Corp, EV, Tata Motors, MG Motor, Ford, JSW, Volkswagen, Thomson Locations: Jinhua, Zhejiang province, China, India, EVs, New Delhi, Shanghai

The lessors have so far unsuccessfully argued in Indian courts to get their planes back, citing concerns that parts could go missing and hurt their assets. In a non-public filing dated July 28 and reviewed by Reuters, ACG submitted pictures and details to the Delhi High Court, listing missing parts from two Airbus A320 planes it inspected. These included the captain's "side stick" used to fly the aircraft, a tiller that helps steer it while on the ground, engine fan blades that were "completely missing", a partly missing toilet seat and an escape slide that had been removed. The filing does not say who took out the parts or how they went missing. Go First, whose lessors also include Standard Chartered's Pembroke Aircraft Leasing, SMBC Aviation and BOC Aviation, did not respond to a request for comment.

Persons: Adnan Abidi, ACG, Pratt, Aditi Shah, Aditya Kalra, William Mallard Organizations: REUTERS, NEW, Go, ACG Aircraft Leasing, Bankruptcy, Reuters, Court, Airbus, Pembroke Aircraft Leasing, SMBC Aviation, BOC Aviation, Raytheon, Whitney, Thomson Locations: New Delhi, India, NEW DELHI, Ireland, Delhi, U.S

☆ India considers raising retirement age for state-owned bank bosses
▼ + stars: | 2023-08-26 | by ( Nikunj Ohri | ) www.reuters.com time to read: +1 min

A man checks his mobile phone in front of a State Bank of India (SBI) branch in Kolkata, India, February 9, 2018. REUTERS/Rupak De Chowdhuri/File Photo Acquire Licensing RightsNEW DELHI, Aug 26 (Reuters) - India is considering raising the retirement age for chairmen and managing directors of state-owned banks, which control over 60% of the banking system's assets, a government official said on Saturday. The age limit for state-run bank chiefs is much lower than their private sector peers, who retire at 70 and have longer tenors. Analysts have often cited this as a reason for a lack of continuity in strategy at state-owned lenders. Chiefs of state-run banks are generally appointed for three years and can be given an extension based on their performance.

Persons: Dinesh Khara, Aditi Shah, Christina Fincher Organizations: State Bank of India, REUTERS, DELHI, SBI, Chiefs, Thomson Locations: Kolkata, India

☆ Nine dead after fire in stationary train carriage in southern India
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Aug 26 (Reuters) - Nine people died on Saturday after a fire broke out in a stationary train carriage in the southern Indian city of Madurai, in Tamil Nadu state. The blaze started after a gas cylinder being used by some passengers to make tea on a stove exploded, Madurai district collector M.S. Sangeetha said, according to a video shot by ANI. More than 50 passengers were travelling in the carriage, which was detached from the train and parked separately at the station, Sangeetha told Reuters partner news agency ANI. ($1 = 82.6370 Indian rupees)Reporting by Aditi Shah; Editing by Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.

Persons: Sangeetha, Aditi Shah, Mike Harrison Organizations: Thomson Locations: DELHI, Indian, Madurai, Tamil Nadu, India's, Orissa

"There is an understanding with Tesla's proposal and government is showing interest," said the official, who is familiar with the issue. Indonesia, for example, has offered to reduce import duties from 50% to zero for EV makers planning investments, a move seen aimed at attracting Chinese players and Tesla. Tesla first tried to enter India in 2021 by pushing officials to lower the 100% import tax for EVs. One of the sources said Tesla told Indian officials a potential India factory could operate at full capacity by 2030. Outside the United States, Tesla currently has a plant in Shanghai - its largest factory worldwide - and one outside Berlin.

Persons: Narendra Modi, Elon Musk, Tesla, Tesla's, Nirmala Sitharaman, Rohan Patel, Aditi Shah, Aditya Kalra, Shivangi Acharya, Kevin Krolicki, Raju Gopalakrishnan, Sharon Singleton Organizations: India's, India's Press, REUTERS, India EV, NEW DELHI, Indian, Tata Motors, Reuters, Mahindra, Tata, EV, EVs, Thomson Locations: New York City , New York, U.S, India, Tesla, New Delhi, Indonesia, United States, Shanghai, Berlin, Mexico

☆ Chandrayaan-3 punches home India's lead in budget space flights
▼ + stars: | 2023-08-24 | by ( Nivedita Bhattacharjee | ) www.reuters.com time to read: +4 min

[1/2] People watch a live stream of Chandrayaan-3 spacecraft's landing on the moon, inside an auditorium of Gujarat Science City in Ahmedabad, India, August 23, 2023. Although India's government allocated the equivalent of $1.66 billion for the department of space for the fiscal year ending in March, it spent around 25% less. By contrast, NASA has a $25 billion budget for the current year. Put another way, the annual increase in NASA's budget - $1.3 billion - was more than what ISRO spent in total. It used Indian suppliers for vehicle assembly, transportation and electronics to keep costs low.

Persons: Amit Dave, Chandrayaan's, Russia's Luna, Somak Raychaudhury, Amit Sharma, Somanath, Narendra Modi's, Ankit Patel, Patel, Nivedita, Aditi Shah, Aftab Ahmed, Kevin Krolicki, Raju Gopalakrishnan Organizations: REUTERS, Rights, Indian Space Research, NASA, ISRO, Somanath, Ashoka University, Tata Consulting Engineers, Reuters, Thomson Locations: Gujarat Science City, Ahmedabad, India, Chandrayaan, Russia, Bengaluru, New

A man checks his mobile phone as he waits while recharging his Ola electric scooter at an electric vehicle charging station in New Delhi, India, February 12, 2022. REUTERS/Aditi Shah/File PhotoPOCHAMPALLI, TAMIL NADU, Aug 15 (Reuters) - Ola Electric, India's largest maker of electric scooters, launched its most affordable rides on Tuesday, in an effort to woo more buyers as the price of e-scooters moves closer to gasoline models. The cheapest gasoline scooter in India costs about 64,000 rupees. The Softbank Group-backed (9984.T) company on Tuesday said it has opened 100 more service centres across the country, taking their total tally to 500. ($1 = 83.3916 Indian rupees)Reporting by Varun Vyas in Pochampalli, Riddhima Talwani in New Delhi and Biplob Kumar Das in Bengaluru, editing by Aditi Shah and Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Aditi Shah, Ola, Varun Vyas, Riddhima, Biplob Kumar Das, Sonia Cheema Organizations: REUTERS, Softbank, Thomson Locations: New Delhi, India, Pochampalli, Bengaluru

☆ Boeing front-runner in wide-body jet talks with IndiGo -sources
▼ + stars: | 2023-08-14 | by ( Aditi Shah | ) www.reuters.com time to read: +2 min

[1/2] A person is seen inside an IndiGo airlines ticketing office at Chhatrapati Shivaji International airport in Mumbai, India, May 30, 2023. IndiGo (INGL.NS) is in talks to buy Boeing's 787 family of twin-aisle aircraft, which has been pitted against Airbus A330neo jets, said the sources who are familiar with the matter. Reuters first reported in March that IndiGo was in talks with Airbus and Boeing for the wide-body jets. So far, IndiGo has been an exclusive buyer of Airbus narrow-body jets and a deal for wide-body planes would be a departure from that strategy. Earlier this year it began international operations with a Boeing 777, its first twin aisle aircraft taken from partner Turkish Airlines, which provides the pilots.

Persons: Francis Mascarenhas, IndiGo, Aditi Shah, Jason Neely, Conor Humphries Organizations: REUTERS, Boeing, Reuters, India's, Airbus, Air India, Turkish Airlines, KLM, Thomson Locations: Chhatrapati Shivaji International, Mumbai, India, Africa, West Asia, Southeast Asia, Europe

☆ Air India unveils new logo in rebranding push under Tata Group
▼ + stars: | 2023-08-10 | by ( Aditi Shah | ) www.reuters.com time to read: +2 min

REUTERS/Adnan Abidi/File PhotoNEW DELHI/BENGALURU, Aug 10 (Reuters) - Tata Group on Thursday unveiled a new logo, branding and plane livery for Air India as part of a multi-million dollar transformation of the former state-run carrier. The airline's new logo includes a design with golden, red and purple colours, and will replace the old logo of a red swan with orange spokes. Since taking control in 2022, Tata has spent millions of dollars to update Air India's old planes, while also placing an order for hundreds of new jets. "The vision we have for the airline is also in the backdrop of a new resurgent India where the aspirations of everyone are limitless," Air India chairperson N. Chandrasekaran said. Over the past year, Air India has expanded its network and flights to several new domestic and international destinations, but it still faces challenges in operating a seamless and timely schedule of flights.

Persons: Adnan Abidi, Campbell Wilson, Tata, Chandrasekaran, Wilson, Aditi Shah, Ganesh, Arun Koyyur Organizations: REUTERS, Tata Group, Air India, Tata, IndiGo, Emirates, Air, Thomson Locations: New Delhi, DELHI, BENGALURU, India, Air India, Bengaluru

Those talks continued over the past week with Tesla discussing minute details of its plans to gain access to India's fast-growing EV market, and Modi personally tracking developments, sources say. Months after seeking clearance for its own $1 billion investment in India, BYD is no longer keen to pursue the approval, Reuters reported. India has told Tesla it will allow its Chinese suppliers into the country if they forge partnerships with local firms, just like Apple did. Tesla does not currently sell vehicles in India. "Add to that an affordable product tailored for the Indian market and it has the potential to be a hit locally."

Persons: Narendra Modi, Elon Musk, Elon, BYD, Tesla, Modi, Musk, Gaurav Vangaal, Tesla's, Sam Fiorani, Aditi Shah, Aftab Ahmed, Aditya Kalra, Shivangi Acharya, Kim Coghill Organizations: India's, India's Press, REUTERS, Economic, Indian, Reuters, EVs, Apple, Global Times, P Global Mobility, Tata Motors, Toyota, Hyundai Motor, Kia, AutoForecast Solutions, Thomson Locations: New York City , New York, U.S, India, New Delhi, Thailand, New York, China, Shanghai

[1/2] Tesla Chief Executive Officer Elon Musk gets in a Tesla car as he leaves a hotel in Beijing, China May 31, 2023. Months after seeking clearance for its own $1 billion investment in India, BYD is no longer keen to pursue the approval, Reuters reported. India has told Tesla it will allow its Chinese suppliers into the country if they forge partnerships with local firms, just like Apple did. Tesla does not currently sell vehicles in India. "Add to that an affordable product tailored for the Indian market and it has the potential to be a hit locally."

Persons: Elon Musk, Tingshu Wang, Elon, BYD, Tesla, Narendra Modi, Modi, Gaurav Vangaal, Tesla's, Sam Fiorani, Aditi Shah, Aftab Ahmed, Aditya Kalra, Shivangi Acharya, Kim Coghill Organizations: Tesla, REUTERS, Economic, Indian, Reuters, EVs, Apple, Global Times, P Global Mobility, Tata Motors, Toyota, Hyundai Motor, Kia, AutoForecast Solutions, Thomson Locations: Beijing, China, India, New Delhi, Thailand, New York, Shanghai

FILE PHOTO-People use their phones in front of the BYD Seagull that is displayed at the Auto Shanghai show, in Shanghai, China April 19, 2023. REUTERS/Aly Song/File PhotoNEW DELHI, Aug 2 (Reuters) - Chinese automaker BYD (002594.SZ) faces an ongoing Indian investigation over allegations that it paid too little tax on imported parts for cars it assembles and sells in the country, two sources with direct knowledge of the matter said. Although BYD has deposited this sum after the DRI's preliminary findings, the source added, the investigation is ongoing and could lead to additional tax charges and penalties. BYD in India and China did not reply to several requests seeking comment. One of the sources said BYD had not met these conditions, making it liable to pay either 70% or 100% depending on the value of the car.

Persons: Aly, BYD, Nikunj Ohri, Aditi Shah, Zoey Zhang, Alexander Smith Organizations: Auto, REUTERS, India's, of Revenue Intelligence, Companies, Xiaomi Corp, HK, Thomson Locations: Auto Shanghai, Shanghai, China, New Delhi, Beijing, India

But Chinese suppliers could be critical if Tesla were to establish a plant in India and keep costs in check for a cheap EV. Instead, the Indian officials said they had suggested a workaround in which Tesla would emulate the approach of Apple (AAPL.O). The U.S. smartphone giant in recent months has obtained approvals to bring Chinese suppliers to India after they found local joint-venture partners. New Delhi in recent months has been approving some Chinese suppliers' JV partnerships with Indian companies on a case-to-case basis, one of the government sources said. One of the Indian officials said pairing local and Chinese players could work for Tesla.

Persons: Dado Ruvic, Tesla, Elon Musk, Apple, China's BYD, Nikunj Ohri, Acharya, Nikunj, Aditi Shah, Aditya Kalra, Jason Neely Organizations: Elon, REUTERS, DELHI, Apple, Tesla, Tata Motors, U.S ., Thomson Locations: India, China, New Delhi, U.S, . New Delhi

☆ Exclusive: BYD tells India partner it wants to drop $1 billion EV investment plan, sources say
▼ + stars: | 2023-07-28 | by ( Sarita Chaganti Singh | ) www.reuters.com time to read: +4 min

BYD executives told Megha Engineering last week that the battery and EV maker wanted to drop pursuit of the investment, according to the two people with knowledge of that exchange. BYD, China's largest EV maker, declined to comment on the status of its investment proposal and whether it would pull the plan to produce electric cars in India. Megha Engineering did not respond to request to comment. A final decision on whether to approve BYD's investment proposal would be taken by Indian ministries of trade and heavy industries. In 2013 it started building electric buses in India with Megha Engineering, under a joint venture company called Olectra Greentech (OLEC.NS).

Persons: BYD, Megha, Aditi Shah, Zoey Zhang, Kevin Krolicki, Simon Cameron, Moore Organizations: Reuters, Megha Engineering, Engineering, automaker Tata Motors, Thomson Locations: DELHI, India, New Delhi, Hyderabad, China, Shanghai

Companies Tesla Inc FollowNEW DELHI, July 28 (Reuters) - Two senior Tesla executives discussed the company's plans to enter India with officials from the country's investment promotion arm in New Delhi, two people with direct knowledge of the matter said, the latest in a series of high-level talks. Invest India CEO Nivruti Rai, a former Intel executive, held talks with the Tesla executives during a meeting on Thursday, they added. Tesla and Invest India did not immediately respond to requests for comment. Most Tesla meetings with Indian officials have been kept under wraps. Reporting by Aditya Kalra, Shivangi Acharya and Aditi Shah; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: carmaker, Rohan Patel, Roshan Thomas, Nivruti Rai, Piyush Goyal, Tesla, Aditya Kalra, Shivangi Acharya, Aditi Shah, Kirsten Donovan Organizations: Tesla, Invest, Intel, Reuters, Thomson Locations: DELHI, India, New Delhi, U.S, Invest India

NEW DELHI, July 24 (Reuters) - Tesla representatives are set to meet India’s commerce minister this month to discuss plans to build a factory to produce what the company has described as an all-new $24,000 car, a person with direct knowledge of the matter told Reuters. The meeting with the commerce minister would be the highest level discussions between Tesla and the Indian government since June when Elon Musk met India's Prime Minister Narendra Modi and said he intended to make a significant investment in the country. The $24,000 target price for the new Tesla vehicle was reported earlier this month by The Times of India newspaper. Reuters reported in May that Tesla executives visited India and held talks with officials on establishing a manufacturing base for cars and batteries in India. As part of that, Tesla representatives are set to meet Indian commerce minister Piyush Goyal, the first person said, and discussions are expected to centre around setting up an EV supply chain and discussing land allotment for a factory.

Persons: Tesla, Elon Musk, Narendra Modi, Piyush Goyal, Shivangi Acharya, Nikunj, Kevin Krolicki, Kirsten Donovan Organizations: Reuters, India's, EV Tesla, The Times, Thomson Locations: DELHI, India, China, New Delhi

REUTERS/Jorge SilvaBANGKOK/NEW DELHI, July 17 (Reuters) - Indian tourists are streaming into Southeast Asia, cementing the world most populous country's position as a key growth market for a travel and tourism sector that is feeling the pinch of China's slower-than-expected re-opening. "Southeast Asia is obviously very well positioned for a lot of the growth that is inevitably going to come from India," aviation analyst Brendan Sobie told an industry conference last month. Tanes Petsuwan, deputy governor of the Tourism Authority of Thailand said 1.6 million Indians were expected to visit the kingdom this year. Indians are helping to sustain a post-pandemic rebound for hospitality chains, including Minor Hotels, which has 45 properties in Southeast Asia with more than 6,000 rooms. Thailand's central bank expects 29 million visitors this year and 35.5 million in 2024.

Persons: Jorge Silva, Brendan Sobie, Tanes Petsuwan, Chai Eamsiri, Chai, Vinay Malhotra, IndiGo's, Sobie, Dillip, Pratyush Tripathy, That's, Somsong Sachaphimukh, Somsong, Pasit, Stefanno Sulaiman, Neil Jerome Morales, Robert Birsel Organizations: REUTERS, Jorge Silva BANGKOK, Thai Airways, Organisation for Economic Cooperation, Reuters, Asian Development Bank, Tourism Authority, IndiGo, Airbus, Minor, Bank of, Tourism Council of, Thomson Locations: India, Thailand, Patong, Phuket, DELHI, Asia, China, Thai, Singapore, Indonesia, Southeast Asia, Jakarta, Bangkok, Kolkata, Pattaya, Europe, United States, Thailand's, Bank of Thailand, Tourism Council of Thailand, BANGKOK, JAKARTA, MANILA

REUTERS/Nick Carey/File PhotoNEW DELHI, July 14 (Reuters) - China's BYD Co (002594.SZ) has submitted a $1 billion investment proposal to build electric cars and batteries in India in partnership with a local company, three people with direct knowledge of the plan told Reuters. The longer-term plan is to build a full line-up of BYD-brand EVs in India from hatchbacks to luxury models, one of the three people said. BYD, the world's largest producer of EVs and plug-in hybrid vehicles, did not immediately respond to a request for comment. If the India investment is approved, it would give BYD a presence in all major global car markets with the exception of the United States. The investment proposal also includes a plan by BYD and Megha to set up charging stations in India and build research and development and training centres, the sources said.

Persons: Nick Carey, BYD, Tesla, EVs, Sarita Chaganti Singh, Aditi Shah, Zoey Zhang, Shivangi Acharya, Kevin Krolicki, Jacqueline Wong Organizations: REUTERS, Reuters, BYD, Shivangi, Thomson Locations: Farnborough, Britain, DELHI, India, Hyderabad, hatchbacks, United States, New Delhi, Shanghai

☆ Maruti Suzuki goes upmarket in India with new seven seater
▼ + stars: | 2023-07-05 | by ( Aditi Shah | ) www.reuters.com time to read: +3 min

[1/3] Hisashi Takeuchi, MD & CEO of Maruti Suzuki India Ltd. and Shashank Srivastava, Senior Executive Officer, Marketing and Sales of Maruti Suzuki India Ltd., pose after the launch of multi-purpose vehicle Invicto in Gurugram, India, July 5, 2023. REUTERS/Sunil KatariaNEW DELHI, July 5 (Reuters) - Maruti Suzuki, India's biggest automaker, is looking to break into the premium car segment with its new seven seater, as a growing number of buyers opt for bigger, feature-packed cars. Maruti, known for small and compact cars that are mostly priced below 1 million rupees ($12,000), on Wednesday launched the Invicto seven seater with a hybrid powertrain starting from around 2.5 million rupees ($30,000). Maruti, majority owned by Japan's Suzuki Motor (7269.T), made its name as a mass market car brand offering affordable prices and low maintenance costs. When it comes to premium cars, or those typically priced above 2 million rupees, buyers tend to turn to the likes of Toyota Motor (7203.T) or Volkswagen (VOWG_p.DE), say analysts.

Persons: Hisashi Takeuchi, Shashank Srivastava, Sunil Kataria, Maruti Suzuki, Takeuchi, Japan's Suzuki, Srivastava, Aditi Shah, Mark Potter Organizations: Maruti Suzuki India Ltd, REUTERS, Maruti, India's, Wednesday, Japan's, Toyota Motor, Volkswagen, Thomson Locations: Gurugram, India, DELHI

REUTERS/Amit Dave/File PhotoPARIS/DELHI, June 28 (Reuters) - Indian aerospace suppliers see record jet orders by the country's top two carriers boosting domestic parts manufacturing and aircraft repairs, but argue the government must do more to support production. Rising traffic, a search for alternative sourcing to China and orders this month from Air India and IndiGo for nearly 1,000 jets combined have made India a key market for aerospace. "We deserve a piece of that pie," added Sardessai, whose company makes engine and plane interior parts. While he could not estimate how much small suppliers will benefit, any subsidy or incentive could be helpful. AEROSPACE INCENTIVESSome suppliers like Sardessai and Aravind Melligeri, CEO of aerospace-parts producer Aequs, said India should create a production-linked incentive scheme for aerospace as it has done with other sectors.

Persons: Vallabhbhai, Amit Dave, Shekhar Sardessai, Safran, Alaric Diniz, Aravind Melligeri, Aequs, Narendra Modi's, Japan's Suzuki, Sachin Agarwal, Agarwal, Sardessai, Ankit Patel, Patel, Allison Lampert, Aditi Shah, Ben Klayman, Matthew Lewis Organizations: An Air, An Air India Airbus, International Airport, REUTERS, Air, IndiGo, Reuters, Kineco Group, Deloitte, Indian, Apple, Japan's, Hyundai, PTC Industries, PTC, Electric, Airbus, Boeing, Thomson Locations: An Air India, Ahmedabad, India, PARIS, DELHI, Indian, China, Air India, Paris, Goa, KS, Uttar Pradesh, Russian, Bengaluru, Europe, Delhi

It is a new challenge for formerly government-owned Air India, which Tata Group took over last year. The CCI, Air India and Vistara did not immediately respond to requests for comment. To address the CCI's concerns, Air India could make concessions such as giving up certain routes or reducing frequency, the second source said, adding that Air India remains confident the matter can be resolved by recommending certain changes. Vistara and Air India both fly on international routes such as London and Dubai and would need antitrust clearances in other jurisdictions, the first source said. Air India is expecting similar queries from foreign countries once it applies for clearance there, but is waiting for the India process to first close, the source added.

Persons: Vistara, Vaibhav Choukse, India's J, Choukse, Aditi Shah, Aditya Kalra, Gerry Doyle Organizations: Vistara, Air India, Tata Group, Tata, Air, The, of India, Singapore Airlines, India's, Sagar Associates, IndiGo, Thomson Locations: DELHI, Air India, India, London, Dubai

[1/2] The Starlink logo is seen in front of the Indian flag in this illustration taken, June 21, 2023. The Telecom Regulatory Authority of India, OneWeb and Starlink parent SpaceX, did not respond. Deloitte says India's satellite broadband service market will grow 36% a year to reach $1.9 billion by 2030. Starlink is waiting for clarity on India's spectrum allocation before firming up its commercial strategy, another source said. "I'd expect Starlink to make high-profile free offers elsewhere in order to try and demonstrate what India could be missing out on," he said.

Persons: Dado Ruvic, Starlink, India's Ambani, Elon Musk, Mukesh Ambani, Narendra Modi, Musk, Ambani, OneWeb, Tim Farrar, Aditya Kalra, Munsif Vengattil, Aditi Shah, Raju Gopalakrishnan Organizations: REUTERS, DELHI, Reliance, Indian, Ambani's, Telecom Regulatory Authority of, SpaceX, Reuters, Deloitte, Foreign, TMF Associates, Thomson Locations: India, U.S, Telecom Regulatory Authority of India

A source previously told Reuters that Musk would brief Modi on plans to set up a manufacturing base in India. "He (Modi) really cares about India because he's pushing us to make significant investments in India, which is something we intend to do," Musk told ANI. Executives of Tesla visited India and held talks with Indian bureaucrats and ministers last month on establishing a manufacturing base for cars and batteries in India. U.S. companies need to reduce reliance on China as a manufacturing base in the face of tensions between Washington and Beijing. If we don't obey local government laws, we will get shut down...," Musk told reporters on Tuesday.

Persons: Elon Musk, Narendra Modi, Modi, Musk, Tesla, Jack Dorsey, Hyunjoo Jin, Shivangi Acharya, Aftab Ahmed, Aditya Kalra, Aditi Shah, Tanvi Mehta, Conor Humphries, Angus MacSwan, Mark Heinrich, Cynthia Osterman, Kim Coghill Organizations: Reuters, Tesla, Twitter, Thomson Locations: United States, India, U.S, China, Washington, Beijing

☆ Musk to brief Modi on Tesla's India investment plans in U.S. meeting
▼ + stars: | 2023-06-20 | by ( Shivangi Acharya | ) www.reuters.com time to read: +2 min

June 20 (Reuters) - Tesla (TSLA.O) chief executive Elon Musk will directly brief Indian Prime Minister Narendra Modi on plans to set up a manufacturing base there, a source with direct knowledge said. Executives of the U.S. automaker visited India and held talks with Indian bureaucrats and ministers last month on establishing a manufacturing base for cars, and also to make batteries in India. Musk will discuss investment plans and outlook with Modi, the source said, describing the planned discussion as a "high-level meeting about India's economic potential". "Tesla has very strong plans for India, including looking at manufacturing," the person added. Tesla last year shelved its India entry plans due to high import tax structures, but has renewed talks in recent weeks by sharing plans with Indian officials about a manufacturing base there, which India has long sought.

Persons: Elon Musk, Narendra Modi, Musk, Modi, Tesla, Jack Dorsey, Shivangi Acharya, Aftab Ahmed, Aditya Kalra, Aditi Shah, Hyunjoo Jin, Conor Humphries, Angus MacSwan, Mark Heinrich Our Organizations: Indian, U.S ., Apple, Twitter, Reuters, Thomson Locations: United States, India, Indian, U.S, China, Washington, Beijing

But it was surpassed on day one of the Paris show by Indian rival IndiGo's (INGL.NS) order for 500 Airbus narrowbody jets. Air India said it was worth $70 billion at list prices, though airlines typically get discounts on big orders worth at least half the headline price, analysts say. The Airbus part comprises 210 A320neo and A321neo narrowbody jets and 40 A350 widebodies. "Our ambitious fleet renewal and expansion programme will see Air India operate the most advanced and fuel-efficient aircraft across our route network within five years," Air India Chief Executive Campbell Wilson said in a statement. The mega-order will also put Air India on a stronger footing to compete with budget rival IndiGo, which has a majority share of the Indian market and a strong position in regional flights.

Persons: Royce, Campbell Wilson, LUDOVIC MARIN, Lars Wagner, Tim Hepher, Joanna Plucinska, Allison Lampert, Valerie Insinna, Aditi Shah, Mark Potter Organizations: India, Airbus, Boeing, Ethiopian Airlines, Paris, Air India, Air, Reuters Graphics Air, Visitors, International Paris Air, Le, Royce, Aero Engines, Tata, Emirates, IndiGo, . Leasing, Avolon, Philippine Airlines, Qantas, Thomson Locations: PARIS, India, Paris, Air India, France

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